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A short-term lease: Multiple Choice ...

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Question

Accounting

A short-term lease:

Multiple Choice

  • Not required to be accounted for by the short-cut method if using IFRS.

  • Is defined as having a value of $6,000 or less.
  • Must be accounted for by the short-cut method if using U.S. GAAP.
  • Is defined as having a lease term of eighteen months or less.

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